Reed City, MI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Reed City Neighborhoods Since 2000




Reed City, MI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Reed City Housing Market Information

With a population of 2,390, 1,060 total housing units (homes and apartments), and a median house value of $89,728, house prices in Reed City are some of the most affordable in Michigan as well as the nation.

Single-family detached homes are the single most common housing type in Reed City, accounting for 61.57% of the city's housing units. Other types of housing that are prevalent in Reed City include large apartment complexes or high rise apartments ( 20.05%), duplexes, homes converted to apartments or other small apartment buildings ( 9.72%), and a few row houses and other attached homes ( 4.42%).

The most prevalent building size and type in Reed City are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.61% owning and 50.39% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Reed City's housing was primarily built during this period, from the '40s through the '60s. A full 39.66% of the city's housing hails from this era. Other housing ages represented in Reed City include homes built between 1970-1999 ( 28.27%) and housing constructed before 1939 ( 26.77%). There's also some housing in Reed City built between 2000 and later ( 5.30%).

Reed City Home Appreciation Rates

Reed City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Reed City during the period has been just -2.05%, which is lower than 80% of US communities.

Over the last year, Reed City appreciation rates have trailed the rest of the nation. In the last twelve months, Reed City's appreciation rate has been -3.48%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Reed City were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Michigan, our data show that Reed City's latest annual appreciation rate is lower than 90% of the other cities and towns in Michigan.

Average Home Values

 

Median Home Value:
$89,728

Reed City, MI HOME PRICES

Value Range
> $1,064,000 0.0
$798,001 - $1,064,000 0.0
$532,001 - $798,000 0.3
$426,001 - $532,000 0.6
$319,001 - $426,000 0.6
$213,001 - $319,000 4.0
$106,001 - $213,000 27.1
$53,001 - $106,000 48.4
$0 - $53,000 18.9

Very Low for MI
Very Low for Nation

Value Relative to Nation Value Relative to State
84.1732098910114 84.2948717948718

Number Of Homes And Apartments:
1,060

Reed City Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
-1.79% -0.10% 3 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$792 / per month

Homeownership Rate

Homeownership
Owners 49.61
Renters 50.39
Vacant 6.36

Housing Market Details

 

Age of Homes

AGE OF Reed City HOMES
2000 or Newer 5.3
1970 - 1999 28.3
1940 - 1969 39.7
1939 or Older 26.8

Types of Homes

TYPE OF Reed City HOMES
Single-Family 61.6
Townhomes 4.4
Small Apt. Buildings 9.7
Apt. Complexes 20.1
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Reed City HOMES
No Bedroom 0.35
1 Bedroom 14.40
2 Bedrooms 24.73
3 Bedrooms 42.31
4 Bedrooms 11.57
5 or more bedrooms 6.63

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Zip Codes in Reed City, MI